Ascendis Pharma A/S (NASDAQ:ASND) Shares Down 6.6% - Here's Why

Shares of Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) traded down 6.6% on Wednesday . The stock traded as low as $169.00 and last traded at $167.26. 225,223 shares changed hands during trading, a decline of 55% from the average session volume of 495,138 shares. The stock had previously closed at $179.10.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Bank of America boosted their target price on shares of Ascendis Pharma A/S from $201.00 to $216.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. JPMorgan Chase & Co. boosted their price objective on Ascendis Pharma A/S from $200.00 to $245.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Evercore ISI upped their price objective on Ascendis Pharma A/S from $260.00 to $280.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $200.00 target price on shares of Ascendis Pharma A/S in a report on Monday, May 12th. Finally, Wedbush lifted their target price on Ascendis Pharma A/S from $181.00 to $212.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $220.67.

Ascendis Pharma A/S Stock Down 0.0%

The company has a market capitalization of $10.57 billion, a P/E ratio of -27.54 and a beta of 0.37. The business has a 50 day simple moving average of $166.28 and a 200-day simple moving average of $150.51.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($1.66) earnings per share for the quarter, missing analysts' consensus estimates of ($1.56) by ($0.10). The company had revenue of $123.97 million for the quarter, compared to analyst estimates of $98.56 million. Equities analysts forecast that Ascendis Pharma A/S will post -4.34 EPS for the current fiscal year.

Institutional Trading of Ascendis Pharma A/S

Several hedge funds have recently added to or reduced their stakes in ASND. RA Capital Management L.P. increased its holdings in shares of Ascendis Pharma A/S by 1.7% during the first quarter. RA Capital Management L.P. now owns 10,281,496 shares of the biotechnology company's stock valued at $1,602,474,000 after purchasing an additional 168,752 shares during the period. Avoro Capital Advisors LLC lifted its holdings in Ascendis Pharma A/S by 2.3% in the fourth quarter. Avoro Capital Advisors LLC now owns 5,103,055 shares of the biotechnology company's stock worth $702,538,000 after purchasing an additional 114,167 shares during the period. Artisan Partners Limited Partnership grew its position in Ascendis Pharma A/S by 0.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 4,450,420 shares of the biotechnology company's stock valued at $612,689,000 after buying an additional 39,309 shares in the last quarter. Janus Henderson Group PLC grew its position in Ascendis Pharma A/S by 4.6% in the 4th quarter. Janus Henderson Group PLC now owns 4,380,382 shares of the biotechnology company's stock valued at $602,910,000 after buying an additional 193,688 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its stake in Ascendis Pharma A/S by 12.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,053,824 shares of the biotechnology company's stock valued at $475,970,000 after buying an additional 328,278 shares during the period.

About Ascendis Pharma A/S

Ascendis Pharma A/S, a biopharmaceutical company, focuses on developing therapies for unmet medical needs. It offers SKYTROFA for treating patients with growth hormone deficiency (GHD). The company is also developing a pipeline of three independent endocrinology rare disease product candidates in clinical development, as well as focuses on advancing oncology therapeutic candidates.